The Indian Equity Index closed on a strong note on May 12 with the Nifty being above 24,900. On closing, the Sensex rose by 2,975.43 points or 3.74 percent to 82,429.90, and the Nifty grew 916.70 points or 3.82 percent to 24,924.70. Around 3375 shares rose, 585 shares declined, and 127 shares did not change. Realty, power, IT, energy rose by 4-6% to close all the regional indices at the green mark. The BSE midcap index increased by 3.8 percent and the smallcap index by 4 percent. The most profitable shares in the Nifty were Infosys, Adani Enterprises, Shriram Finance, Trent, HCL Technologies, while the loss included Sun Pharma and IndusInd Bank.
In view of the India-Pakistan ceasefire agreement today (May 12), India’s benchmark index Sensex and Nifty opened with 50 gains. In addition, shares like HDFC Bank, Reliance Industries and ICICI Bank, which have heavy weight in the index, also got support from the market. The 30 -share Sensex of BSE opened more than 1,000 points to 80,803.80 on Monday. At 1:40 pm, it was 2681.67 i.e. 3.38 per cent to 82,136.14 points. Out of 30 Sensex’s 30 companies, 18 shares were in profit. Similarly, the Nifty-50 of the National Stock Exchange (NSE) also opened up with a strong boom at 24,420.10 points. At 1:41 pm, it was 831.40 points or 3.46 percent with a huge rise at 24,839.40.
Investors will also keep an eye on these triggers
The fourth quarter results of the companies, the attitude of foreign investors (FIIs), the trade agreement between China and the US and other global market indicators will also affect domestic markets. Foreign investors, who were shopping in Indian shares for 16 days before the clash began on Friday, can start investing again when instability is reduced. The Sensex fell 880.34 points or 1.10 percent to close at 79,454.47 in the last trading session, while the Nifty also fell 265.80 points or 1.10 percent to close at 24,008.
The deal between India and America may take time
On the other hand, US Commerce Secretary Howard Lutenik told Bloomberg Podcast on Saturday that the trade agreement with India could take time. He said that this is why there is a need to talk on a long list of tariff lines.
What are the signs of global markets?
The Asian markets rose on Monday due to significant dialogue between the US and China after significant talks in Switzerland. Nikkei was up 0.18 percent when the last investigation was done and the topics was 0.12 percent. Kospi increased by 0.60 percent, while ASX 200 increased by 0.47 percent. Meanwhile, there was a mixed trend in the US markets on Friday. Dow Jones declined by 0.29 percent. The S&P 500 declined by 0.07 percent and Nasdaq remained mostly stable.
America-China trade break in war
An important step has been taken to reduce the ongoing trade tension between the US and China. The two countries have agreed to a temporary deduction of 115% in the import duty (tariff) imposed on each other’s goods. This cut will be effective for 90 days. US Finance Minister Scott Besant gave this information. He said that the decision was taken during the recent bilateral trade talks held in Switzerland, which he described as “creative and positive”.
Pakistan also boom in stock exchange
Pakistan’s Stock Exchange has also breathed a sigh of relief after India agreed to the ceasefire. Pakistan’s stock market benchmark index Karachi Stock Exchange 100 (KSE 100) jumped more than 9% in early trade on Monday. According to the data available on Bloomberg, by 10.20 am, the KSE 100 index rose by about 9,100 points or 8.9% to 116,640.94. Friday’s trading session saw a strong growth of about 4%. With today’s edge, the Pakistan benchmark index has become positive again on the year-on-year (YTD) basis.
